weekly media update 28.07.2014
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TRANSCRIPT
(This document comprises news clips from various media in which Balmer Lawrie is mentioned, news
related to GOI and PSEs, and news from the verticals that we do business in. This will be e-mailed on
every Monday.)
Balmer Lawrie in News
Balmer Lawrie organises free health camp for drivers of commercial vehicles
Balmer Lawrie & Co, a Miniratna PSE, organised a free health check-up camp for drivers of commercial
vehicles at its grease and lubricants division in the city.
WEEKLY MEDIA UPDATE Issue 149
28 July, 2014 Monday
Introduced as a corporate social responsibility program from June 23, the first phase will be spread
over end July and August. Around 10,000-odd drivers are expected to be covered in the eastern
region.
The company has also decided to conduct similar health check-up camps nationally in 2014-15,
benefiting 50,000 drivers, it said in a release.
Hindu Business Line - 26.07.2014
http://www.thehindubusinessline.com/companies/balmer-lawrie-organises-free-health-camp-for-
drivers-of-commercial-vehicles/article6252274.ece
(The above news was carried by other online media as well.)
Govt lays out eligibility criteria for ratna
status
For Maharatna status: Having Navratna status,
Listed on Indian stock exchange with minimum
prescribed public shareholding under SEBI
regulations, Average annual turnover of more than
Rs. 25,000 crore, during the last 3 years. Average
annual net worth of more than Rs. 15,000 crore,
during the last 3 years. Average annual net profit
after tax of more than Rs. 5,000 crore, during the
last 3 years. Should have significant global
presence/international operations.
For Navratna status: Net profit to net worth,
manpower cost to total cost of
production/services, profit before depreciation,
interest and taxes to capital employed, profit
before interest and taxes to turnover, earning per
share and inter-sectoral performance. For
Miniratna status: The CPSEs which have made
profits in the last three years continuously and
have positive net worth are eligible to be
considered for grant of Miniratna status. Presently,
there are seven Maharatna, 16 Navratna and 71
Miniratna CPSEs.
The Times of India - 21.07.2014
http://timesofindia.indiatimes.com/business/india-
business/Govt-lays-out-eligibility-criteria-for-
ratna-status/articleshow/38810333.cms
Shape up or shut down, Arun Jaitley
tells PSUs
The government on Tuesday said that four
public sector companies, which cannot be
revived will be shut down and finance minister
Arun Jaitley asked others to shape up to deal
with free competition in an era when state-run
firms had lost monopoly rights and preference,
marking a clear shift in the Centre's policy.
In case of seven others, Jaitley told Parliament,
the government is trying to revive seven ailing
PSUs via disinvestment and the joint venture
route. The FM's stern statement means the
government is ready to bite the bullet on
controversial reforms to repair public finances
and put the economy on a higher growth
trajectory. The minister said that 79 central
public sector enterprises have incurred losses,
of which 49 are sick. At the same time he said
that there are 19 that have turned around,
indicating that there will be an effort to revive
the viable ones that remain competitive.
The Times of India - 23.07.2014
http://timesofindia.indiatimes.com/business/in
dia-business/Shape-up-or-shut-down-Arun-
Jaitley-tells-PSUs/articleshow/38886585.cms
PSUs can park funds in MFs
Public sector enterprises such as Navratnas and
Miniratnas are allowed to invest 30 per cent of
their surplus funds in Sebi-regulated public sector
mutual funds. Of this, however, they must park 60
per cent of excess funds with public sector banks,
Parliament was informed on Monday.
“Recently it has been decided that Navratna and
Miniratna CPSEs can invest 30 per cent of their
surplus funds in Sebi-regulated public sector
mutual funds,” minister of state for heavy
industries and public enterprises P. Radhakrishnan
said in a written reply to the Lok Sabha. “It has
also been decided that at least 60 per cent of
surplus funds should be placed with public sector
banks,” Mr Radhakrishnan said. As per information
available in the Public Enterprises Survey 2012-
13, all central public sector enterprises (CPSEs)
taken together have total cash and bank balances
of Rs 2,66,600 crore.
The Asian Age - 22.07.2014
http://www.asianage.com/business/psus-can-
park-funds-mfs-196
Government Looking at Stake Sale in Rail Infra Companies: Report
The government is planning to offload its stake
in certain profit-making infrastructure
companies of Indian Railways, a move that will
help such companies to get listed on stock
exchanges as well as raise funds for exchequer.
"We are in talks with the Railway Board for sale
of government equity in certain PSUs managed
by Indian Railways, a source told PTI. There
are about half a dozen companies which are
managed by Indian Railways. These include
RITES, IRCON, IRFC, IRCTC, and RailTel
Corporation.
Since these companies are not listed it is likely
that the initial public offer (IPO) will be
accompanied by government offloading its
stake.
NDTV - 22.07.2014
http://profit.ndtv.com/news/corporates/article-
government-looking-at-stake-sale-in-rail-infra-
companies-report-592010
AI’s Merger with Indian Airlines Almost
Complete
Minister of State for Civil Aviation, Shri G.M.
Siddeshwara informed the Rajya Sabha today that
the merger of Indian Airlines and Air India is
almost complete. Out of the 226 issues, on which
integration action was initiated, 204 have been
completed and integration action is in progress on
17 other issues. Five issues are pending because
of court cases.
To a large extent, level mapping and seniority
merger of the two erstwhile airlines have been
completed. The draft revised basic pay and
allowances in respect of the different categories of
employees of the merged entity have been
displayed on the intranet and the same could not
be implemented due to on-going court cases.
Press Information Bureau - 22.07.2014
http://pib.nic.in/newsite/PrintRelease.aspx?relid=
107172
70% travel trade gone online; airlines
marching towards 100%: ASSOCHAM
Over 70 per cent of travel trade in India has
gone online and the figure will likely reach 85-
90 per cent in the next five years with
maximum of internet usage being seen in
airlines ticketing, luxury and mid-segment
hotel bookings and the Railways with the
booking agents mushrooming even in smaller
cities, an ASSOCHAM study has said.
In the case of ticketing of airlines, the internet
penetration and usage has already crossed 95
per cent with hardly anyone seen on the
airlines counters or even at the counters of the
travel agents, who themselves have gone
online.
Business Standard - 21.07.2014
http://www.business-
standard.com/article/news-cm/70-travel-trade-
gone-online-airlines-marching-towards-100-
assocham-114072100215_1.html
Flash sale by budget carriers from
August 19
Low-cost carriers on Tuesday launched yet
another limited period discount — with all-
inclusive fares starting from Rs 2,099 — to fill up
their domestic flights in the lean travel months of
August and September. The scheme, started once
again by cash-strapped SpiceJet, is for travel
between August 24 and September 26, 2014, and
tickets have to be booked by Thursday night.
Minutes after SpiceJet launched its third in as
Fixed fares likely for flights to
underserved places
Want to fly from Delhi to Port Blair in an
emergency? It could cost you as much as Rs
40,000 for a one-way ticket in peak season,
although right now it's about onefourth that
price. Tickets to Guwahati and Srinagar that
need to be bought in a rush can cost Rs20,000,
whereas those bought in advance are much
cheaper. While this differential applies on all
sectors, it's much wider for regions
many weeks discount, other LCCs also joined in.
GoAir came out with fares starting from Rs 1,699
for travel between August 19 and September 30
and tickets to be booked by July 31. India's
largest airline by domestic carriage, IndiGo, came
out with all-inclusive Delhi-Mumbai fare starting at
Rs 2,999.
The Times of India - 23.07.2014
http://timesofindia.indiatimes.com/business/india-
business/Flash-sale-by-budget-carriers-from-
August-19/articleshow/38896549.cms
underserved in terms of air connectivity and
has long been a sore point with those who live
there. Now, the government is planning to
ensure they don't need to pay exorbitant
amounts for tickets. However, the flip side of
any plan for fixed fares is that there won't be
any discounts for advance purchases.
The Economic Times - 25.07.2014
http://articles.economictimes.indiatimes.com/2
014-07-25/news/52026715_1_fares-port-blair-
consultations
Jet, Etihad woo passengers with 20-50%
discount on fares
Private carrier Jet Airways and its 24 per cent
equity partner Etihad on Thursday announced a
20-50 per cent special limited period discount on
fares across 135 international destinations of the
two carriers.
"Both economy and business class travellers of Jet
Airways and Etihad Airways availing this special
offer will enjoy a flat 20-50 per cent discount over
regular fares, which is to celebrate the strategic
alliance," a release said here.
The Times of India - 24.07.2014
http://timesofindia.indiatimes.com/business/india-
business/Jet-Etihad-woo-passengers-with-20-50-
discount-on-fares/articleshow/38977965.cms
Pay in dollars on domestic airlines
flying abroad
If you shop on board domestic airlines
operating on international routes, you must
pay either in US dollars or in the currency of
the destination country. Advocate Manoj K
Mishra learnt this lesson while travelling with
his family to Bangkok this summer. He and his
family members boarded IndiGo flight 6E-41
from New Delhi on June 5. On board, he
bought masala tea and snacks. He offered to
pay in Indian rupees but the cabin crew
refused, saying they accepted only US dollars
or Thai baht.
The Times of India - 25.07.2014
http://timesofindia.indiatimes.com/India/Pay-
in-dollars-on-domestic-airlines-flying-
abroad/articleshow/38984729.cms
India’s port push in line with WTO trade
pact
At a time when India has threatened to block the
trade facilitation agreement (TFA) that was
reached at the World Trade Organization’s Bali
meeting in December, the government has
allocated huge sums of money for development of
ports and has announced a single-window
clearance mechanism for imports in the budget
that will help it meet its commitments under the
accord.
India has taken a tough stand on the TFA with its
permanent representative at the WTO, informing
the multilateral trade body that it will not be
possible for India to ratify the agreement, as it
feels the talks on finding a permanent solution on
the issue of food security and public stockholding
are not progressing as expected. India will finalize
its stand on TFA at a cabinet meeting on
Wednesday, one day before the general council of
the WTO takes up the agreement aimed at
streamlining cross-border trade.
Live Mint - 23.07.2014
http://www.livemint.com/Politics/RlNnh0wBjGChI
MNB9BaY6J/Indias-port-push-in-line-with-WTO-
trade-pact.html
Companies nudge staff to spend time
off work
For the harried overworked executives, there's
a new trend that is going to change the way
they look at "work" and "life" or "work-life
balance". Companies are saying no to leave
encashment, which leaves no choice for
employees but to exhaust the number of days
off they get during a year. In effect,
organizations ensure employees spend quality
time off work as well.
Starting this financial year, Vodafone India has
revised its casual leave (CL) and privilege leave
(PL) policy by doing away with CL encashment.
Not only that. The telecom operator has also
increased the compulsory limit for PL by four
days. Godrej is another group which has
removed the monetization of sick leave this
year, while at Siemens, leave encashment is
allowed only on retirement.
Times of India - 28.07.2014
http://timesofindia.indiatimes.com/business/in
dia-business/Companies-nudge-staff-to-spend-
time-off-work/articleshow/39137766.cms